To recover the investment James will take \(\boxed{2.5{\text{ years}}}.\)
Further Explanation:
Given:
The current salary of James is \(\$ 42000.\)
The time taken to complete the college degree is \(2{\text{ years}}.\)
The cost of the college degree is \(\$ 28000.\)
The James’ new salary after college degree will be \(\$ 56000.\)
Calculation:
The total investment of James can be calculated as follows,
\(\begin{aligned}{\text{Investment}} &= {\text{Salary of 2 years}} + {\text{2 years tuition fees}} \\&= 2 \times 42000 + 2 \times 28000\\&= 84000 + 56000\\&= \$ 140000\\\end{aligned}\)
The total investment for 2 years will be \(\$ 140000.\)
The James’ new salary after college degree will be \(\$ 56000.\)
The time taken by James to recover \(\$ 140000.\)
\(\begin{aligned}{\text{Time}} &= \frac{{140000}}{{56000}}\\&= 2.5{\text{ years}}\\\end{aligned}\)
To recover the investment James will take \(\boxed{2.5{\text{ years}}}.\)
Learn more:
- Learn more about inverse of the function https://brainly.com/question/1632445
- Learn more about range and domain of the function https://brainly.com/question/3412497
- Learn more about profit and loss https://brainly.com/question/2479097
Answer details:
Grade: High School
Subject: Mathematics
Chapter: Investment and return
Keywords: James, job, current salary, salary, $42000, earn, college, college degree, 2 years, complete, graduation, cost, $28000, per year, investment, recover, new salary, work, able, school, full time.
